Reporting 83(b) Election Income

Forum|Forum|4 years ago
March 4, 2022
1 reply
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How do I report 83(b) election income on my taxes when it was not included on Line 1 of my W2 and my employer is not sending a corrected W2?

Best answer by LenaH

83(b) elections should automatically be reported on your W2. However, since your employer did not include it on your W-2 and will not issue a corrected W-2, you can report it manually on your return.

To report this income, please follow the steps below:

Open your return.
Click on Federal on the left-hand side of the screen.
Go to Income & Expenses.
Scroll down to Less Common Income.
Click Start next to Miscellaneous Income.
Click Start next to Other income not already reported on a Form W-2 or Form 1099.
Continue past the pages that do not apply.
Answer Yes on the page Any Other Earned Income.
Choose Other on the page Enter Source of Other Earned Income.
Follow the on-screen information.

[Edited 3/5/22 l 6:12AM PST]

@dcarney

LenaH

Answer

Community Manager

To report this income, please follow the steps below:

Open your return.
Click on Federal on the left-hand side of the screen.
Go to Income & Expenses.
Scroll down to Less Common Income.
Click Start next to Miscellaneous Income.
Click Start next to Other income not already reported on a Form W-2 or Form 1099.
Continue past the pages that do not apply.
Answer Yes on the page Any Other Earned Income.
Choose Other on the page Enter Source of Other Earned Income.
Follow the on-screen information.

[Edited 3/5/22 l 6:12AM PST]

@dcarney

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camalj

Level 2

How does this differ when I am a contractor that in addition to my hourly pay was awarded stock that I filed earlier with an 83(b)? The 1099-NEC I was provided did not include my stock award FMV @LenaH